Junhem Biopharma Secures Nearly RMB 200 Million in Series A1 Financing Led by Tonghua State Investment and Guangdian Capital, with WinX Capital as Exclusive Financial Advisor

VCBeat (WeChat: vcbeat) has learned that recently,JHM Biopharmaceutical (Hangzhou) Co., Ltd. (hereinafter referred to as “JHM Biopharma”) has completed the first closing of its Series A1 financing round. The round was co-led by Tonghua State-owned Investment and Guangdian Capital, with participation from Zhonghe Oupu, Focus Fund, and Hongshi Capital, among others. WinX Capital served as the exclusive financial advisor for this financing round.The proceeds from this round of financing will be primarily used to accelerate the development of the company’s product pipeline under investigation and to construct a GMP-compliant commercial manufacturing facility.

JHM Biopharma, established in November 2020, is an international innovative enterprise dedicated to pioneering protein therapeutics for expansive markets. Leveraging over two decades of R&D and industrialization experience in protein drugs by its core team, JHM Biopharma has built a recombinant protein drug development platform that balances druggability with innovation. This platform encompasses high-efficiency expression systems for recombinant proteins, proprietary micro-denaturation separation and purification technologies, in vitro protein folding and self-assembly systems, as well as long-acting sustained-release technologies—high-barrier capabilities that have already achieved industrial application. Furthermore, the company’s executive team has collaborated for more than ten years, jointly developing multiple protein therapeutics across all stages from project initiation, R&D, and manufacturing to clinical trials and commercial launch. The team’s high stability, strong collaborative synergy, and cohesive spirit provide a solid foundation for the company’s long-term growth.

JHM Biopharma’s R&D pipeline is strategically positioned in the frontier fields of protein therapeutics within broad markets such as metabolism and medical aesthetics, with its lead products focusing on recombinant protein drugs that possess consumer-oriented attributes, including recombinant botulinum toxin type A and growth hormone.

● Recombinant Botulinum Toxin Type A:Leveraging its in-depth understanding of recombinant protein technology platforms and the structural characteristics of botulinum toxin type A, JHM Biopharma is among the first tier of companies in China to achieve recombinant expression and production of botulinum toxin type A. Its recombinant botulinum toxin type A boasts advantages such as high purity, high potency, consistent quality, and a streamlined manufacturing process. The company is preparing to submit an Investigational New Drug (IND) application, striving to become the first manufacturer globally to gain regulatory approval for a recombinant botulinum toxin type A product, thereby reshaping the landscape of recombinant botulinum toxin type A applications in the medical aesthetics sector.

● Growth Hormone:Synchronously deploying long-acting and short-acting growth hormone portfolios, JHM Biopharma leverages its proprietary drug development platform and industrialization expertise. For the present, the company aims to significantly reduce the production costs of short-acting growth hormone while enhancing product quality, thereby providing patients with more options and alleviating their financial burden. Looking to the future, the unique molecular design of its long-acting growth hormone promises improved efficacy, enhanced safety, and a significantly extended half-life, enabling weekly or less frequent dosing regimens. Meanwhile, its innovative manufacturing process will substantially lower production costs, overcoming barriers to commercial adoption and positioning it as a new therapeutic option for patients in this disease area.

More notably, the Company has established a GMP-compliant production facility spanning nearly 8,000 square meters at Hangzhou Medical Port, which is already capable of meeting the production and commercialization needs of its product pipeline. This stands as one of the Company’s most prominent strengths, positioning JHM Biopharma among the few biotech companies in the industry with proven industrialization experience.

Xu Kui, CEO of JHM BiopharmaStatement: We sincerely appreciate the investors’ recognition and support for our company, and we also thank WinX Capital for facilitating the rapid completion of this financing round. In response to the substantial market demand in the consumer healthcare sector, we remain committed to foundational platform technology innovation and continuous product iteration and upgrading, with a strategic focus on recombinant protein therapeutics possessing independent intellectual property rights. We are confident that, through the joint efforts of our team and our institutional investors, the company will emerge as a leader in the field of recombinant protein therapeutics.

Ren Nan, Chairman and General Manager of Tonghua State-owned InvestmentIt was stated that the decision to invest in JHM Biopharma was driven not only by its sustained innovation and development capabilities and its pivotal position within the industry, but also by its potential for sustainable competitive advantages in the future. Products such as recombinant botulinum toxin type A and growth hormone are poised to lead new technological trends in the medical aesthetics sector in the near term. Furthermore, this investment marks a significant milestone in Tonghua State-owned Capital’s strategic transformation of its capital allocation.

Cai Ning, Managing Partner of Guangdian CapitalCommentary: Botulinum toxin has long been a cornerstone blockbuster product in medical aesthetics, characterized by substantial and rapidly growing clinical demand, alongside a shortage of compliant products and domestic brands. Growth hormone remains the most critical therapeutic intervention for dwarfism, yet its clinical application has been constrained by the high manufacturing costs associated with long-acting sustained-release technologies. We are optimistic about the company’s next-generation recombinant Type A botulinum toxin and growth hormone products, which are poised to lead both the medical aesthetics and growth hormone markets in the future. The company’s core R&D team possesses extensive experience in the research, development, and industrial-scale production of recombinant protein drugs, having overcome major industrialization barriers such as high-efficiency expression, scale-up, refolding, and purification. We believe the company will achieve further breakthroughs in the field of recombinant proteins. Guangdian Capital will provide multi-dimensional support and empowerment to help the company grow into an internationally renowned enterprise in the realm of recombinant protein therapeutics.

Zhao Chunsheng, Investment Committee Member of Zhonghe Oupu Fund and Deputy General Manager of Ophutics Investment Co., Ltd.It stated: “For the past 21 years, Autek China has remained focused on new technologies and products in ophthalmology and consumer healthcare. We are optimistic about the target company’s next-generation, high-efficacy protein products featuring proprietary technologies, and we look forward to supporting the company’s rapid growth.”

Chen Feng, President of Jujiao FundRecombinant protein therapeutics are widely used in clinical practice, offering substantial market potential. Leveraging its proprietary technology platform, JHM Biopharma has strategically entered the high-demand fields of medical aesthetics and metabolic disorders, successfully developing blockbuster products such as recombinant botulinum toxin type A and growth hormone with exceptional cost-effectiveness. These innovations are poised to fill industry gaps and significantly enhance drug accessibility. We believe JHM Biopharma has the potential to grow into a leading domestic and internationally renowned manufacturer of recombinant protein therapeutics, delivering first-class medicines and services to global customers.

Dr. Zou Guowen, Founding Partner of WinX CapitalWinX Capital is honored to have assisted JHM Biopharma in completing this round of financing and will continue to lead its subsequent fundraising efforts. This round marks JHM Biopharma’s first equity financing open to institutional investors since its establishment. Since the launch of the fundraising process, the company has attracted significant interest from numerous investment institutions. We extend our sincere gratitude to both the company and the investing institutions for their trust in WinX Capital.JHM Biopharma possesses industry-leading innovative platform technologies and extensive commercialization experience. Backed by an experienced R&D and management team with a global perspective, the company has developed a robust product pipeline that addresses substantial market demand, emerging as a standout dark horse in China’s—and indeed the global—consumer healthcare sector. We are confident that, with the support of its shareholders, JHM Biopharma will usher in a new chapter for China’s consumer healthcare industry.

Tonghua State Investment Group, with a registered capital of RMB 1 billion, was established in July 2019. It is a wholly state-owned group company with independent legal person status, approved by the Tonghua County People’s Government and funded by the County Finance Bureau. As an emerging player in the capital market, Tonghua State Investment Group has invested across multiple sectors. Upholding the philosophy of “Revitalizing Tonghua through State Assets, Investing for a Winning Future,” the Group aims to build industrial clusters worth RMB 1 billion and accumulate a capital reserve of RMB 10 billion, thereby providing robust support for more high-quality projects.

Founded in 2016, Guangdian Capital is one of China’s most dynamic private equity investment firms, focusing on growth-stage enterprises in the consumer technology sector. Adhering to the investment strategy of “focusing on industry champions and pursuing long-term value,” Guangdian Capital has identified and connected a cohort of champion companies in vertical niches. Together with the new generation of entrepreneurs within the Guangdian ecosystem, they have co-created a vibrant new landscape for China’s consumer market. Investment portfolio includes: VSPN Quantum Sports, Taiyang Chuanhe, ACG International Art Education, Jijia Pets, Yiyi Co., Ltd., Little Freddie, RedDog, and Jin Duoduo.

The Zhonghe Oupu Medical Health Industry Fund was jointly initiated and co-managed by China Investment & Finance Fund Management Co., Ltd. and the listed company Autek China. The fund focuses on new technologies and products in the healthcare sector, with a specialization in innovative and disruptive therapies. It primarily invests in innovative technologies and disruptive therapies within the consumer healthcare segment, while also targeting innovative small and medium-sized medical device projects that demonstrate strong technological advancement and market potential.

Jujiao Fund focuses on research in the field of life science technology innovation, with a mission to discover emerging technology companies that create unique social value. It primarily invests in early-stage equity projects within the life science and technology industry. Since 2018, the Jujiao Fund team has specialized in the preclinical stage of innovative drugs, consistently adhering to a strategy rooted in addressing genuine unmet clinical needs. The fund is dedicated to identifying new drugs with true international clinical differentiation value and investing to support the development of innovative pharmaceutical companies. The Limited Partners (LPs) of Jujiao Fund consist of large state-owned sci-tech investment groups, state-owned financial institutions, and other institutional investors.

Hongshi Capital is a venture capital firm specializing in early-stage and growth-stage investments, with a primary focus on healthcare, emerging technologies, and new consumption sectors. Leveraging extensive global resources, professional investment management expertise, and operational capabilities, Hongshi Capital drives the exceptional development of its portfolio companies, achieves efficient, robust, and sustainable capital growth, and creates shared value. Its exited funds have realized an internal rate of return (IRR) of 79%, with a distributed paid-in capital multiple of 9.66x.Hongshi Capital has established a deep strategic partnership with Jindi·Xindao Blue Valley (a professional biomedical industrial park in Hangzhou, covering a land area of 150 mu and a total gross floor area of over 280,000 square meters, providing specialized biomedical infrastructure including GMP production facilities, R&D and testing spaces, public laboratories, and shared incubation spaces). Together, they are building a closed-loop ecosystem focused on innovative biopharmaceuticals, medical devices, in vitro diagnostics (IVD), and other niche segments, thereby advancing its investment layout in the life sciences sector. Recent investments in the life and health sector include Weiyuan Synthesis, Taichu Biotech, Minsheng Pharmaceutical, Yatong Biotech, Furun Medical, and Meisai Biotech.

WinX Capital is a leading investment bank in China’s healthcare sector. Headquartered in Beijing and Shanghai, it covers more than 3,000 active institutional investors and industrial groups. From 2020 to 2022, WinX Capital was consecutively recognized by Qimingpian & Xinsheng Chuangfu as “Top 2 Best Financial Advisors in Healthcare (2021–2022),” “Top 4 Best Financial Advisory Firms in Healthcare (2020),” “Top 10 Best Financial Advisors – Active List (2021),” “Top 6 Best Financial Advisors – Comprehensive List (Mid-2022),” and “Top 7 Best Financial Advisors – Active List (Mid-2022).” It was also listed among the “Top 5 Most Promising New Investment Banks in China (WISE 2020/2021)” by 36Kr, and ranked “Top 5 Healthcare Financial Advisors of the Year” at VCBeat’s 2022 “Pengcheng Awards.”